Tokio Marine is one of the last insurance giants still insuring fossil fuels in the world.
Despite Tokio Marine’s membership in the Net-Zero Insurance Alliance (NZIA) and its commitment to achieving net-zero greenhouse gas emissions from its underwriting portfolios by 2050, it does not have a policy to restrict its underwriting or investment on oil and gas projects, and its coal policy is remarkably weak.
A lifeline for the
world's oil, gas
and coal projects.
Tokio Marine’s insurance for fossil fuels is undermining efforts to limit global heating to 1.5C in line with the Paris Climate Accord. Most fossil fuel extraction, transport and power projects would not proceed if it weren’t for a small number of insurers like Tokio Marine that continue to underwrite them.
Is Tokio Marine really serious about stopping climate change?
While Tokio Marine is proud of its “legacy of leadership” to address climate change, Tokio Marine’s fossil fuel insurance policy contains loopholes and numerous gaps.